Pranik Logistics Secures Master Service Agreement with InstaKart for Fulfillment Center Management in Bihar
Pranik Logistics Limited has finalized and executed a definitive Master Service Agreement (MSA) with InstaKart Services Private Limited, the logistics arm of the Flipkart group. The agreement outlines the framework for managing fulfillment centers, warehouses, and delivery hubs located in Bhagalpur, Bihar, covering aspects such as storage and product handling.The engagement is designed to manage operations across these key infrastructure points. This domestic partnership establishes a comprehensive operational and legal structure governing the logistics services provided by Pranik Logistics Limited.
Key details of the Master Service Agreement include:
| Aspect | Details |
|---|---|
| Partner Entity | InstaKart Services Private Limited (Logistics and fulfilment arm of Flipkart) |
| Agreement Type | Master Service Agreement (MSA) for fulfillment center/warehouse management. |
| Location Focus | Bhagalpur, Bihar |
| Duration | Up to June 30, 2029 |
| Transaction Status | Arm's length arrangement in the ordinary course of business. |
The agreement sets forth the core operational and legal framework for warehousing and fulfillment management, including pricing mechanisms, service levels, and operational parameters. Commercial aspects of the arrangement are based on a variable, slab-based pricing mechanism directly linked to actual operational volumes.
Pranik Logistics Limited has assessed that the revenue potential generated by this engagement is anticipated to exceed the quantitative thresholds established under its internal policy for determining material events.
PRANIK Stock Price Movement
Today, shares of Pranik Logistics Limited traded flat, closing at ₹47.50 as the stock saw no movement in value for the session. The equity's performance occurred amidst a narrow trading range between a day low of ₹47.50 and a high of ₹47.90, with 6,400 shares recorded in total trade volume.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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